Regional Vice President of Sales The Retirement Plan Company
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Bates & Company, Inc.
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AimPoint Pension
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Loan & Distribution Specialist AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Compass
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Most Employers, Workers Remain Committed to Their 401(k) During Pandemic
Plan Sponsor Council of America [PSCA] June 25, 2020 "No responding organizations indicated that they are currently considering terminating the plan as a result of the ongoing pandemic and economic conditions ... Nearly two-thirds (63.5 percent) of respondent plans are allowing participants to take Coronavirus-Related Distributions (CRDs). Only a third (36.5 percent) of respondents increased plan loan amounts to the lesser of $100,000 or 100 percent of the vested account ... One-in-five plan sponsors (19.7 percent) are still taking a wait-and-see approach, and fewer than 10 percent of employers have already determined they will not implement any of the optional CARES Act provisions." |
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